This morning Artificial Intelligence Technology Solutions Inc (OTCMKTS:AITX) filed its financial results for the fiscal year that ended on February 28, 2021 with the United States Securities and Exchange Commission.
However, it has not come as a boost for the stock, and instead the Artificial Intelligence Technology Solutions stock has tanked by 6%. The company announced that its derivative liability at the end of the fiscal year came in at only $943,000. In the year ago period, the derivative liability had stood at $9,521,000.
On the other hand, the company also announced that back in December of 2020, it had also successfully exchanged convertible debts and interest to the tune of around $7.7 million into promissory notes as well as warrants. In addition to that, Artificial Intelligence Technology Solutions also issued $825000 in the form of new convertible debt. At this point, it might be a good move for investors to keep an eye on the stock.